Ethereum hits $2,800 as ETFs and shorts fuel rally: can ETH reach $3,400
Ethereum (ETH) has surged nearly 2% over the past 24 hours, reaching the previously forecast target of $2,800 as improving technical and on-chain indicators support the possibility of further gains. The latest rally strengthens the argument that Ethereum's previous bearish cycle ended when the cryptocurrency fell to approximately $1,550. Since establishing that low, ETH has recovered sharply and broken out of a bullish continuation pattern, putting the next major upside target near $3,400. Although the broader macroeconomic environment remains challenging, rising trading activity, renewed exchange-traded fund inflows and a notable on-chain signal suggest that buyers are regaining control of the market.
